Jigar Shah, Former Director, Loan Programs Office (LPO)

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May 15, 2025

Jigar Shah, a leading force in clean energy, is the former Director of the Department of Energy's Loan Programs Office and a venture partner at Powerhouse Ventures. He shares insights from his tenure at LPO, highlighting the leap in lending authority and the importance of public-private partnerships. Jigar delves into the commercialization challenges of energy technologies and stresses the need for trust and collaboration in fostering innovation. He also reflects on the role of humility in startup success and his commitment to supporting tech entrepreneurs.

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ANECDOTE

Unexpected Call to Serve

Jigar Shah initially hesitated to join DOE's LPO despite success at Generate Capital.\n- The call to serve came unexpectedly, challenging his comfort zone.

INSIGHT

LPO's Purpose and Challenges

LPO was created to commercialize U.S. technology that often gets commercialized overseas.\n- Past risk events made government cautious in fully unleashing LPO's potential.

ADVICE

Build Trust to Attract Founders

To attract founders to government loans, build trust gradually by engaging early adopters first.\n- Direct conversations with CEOs reveal their concerns and help onboard new users.

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You don’t meet many people like Jigar Shah.

He’s one of the rare leaders who has shaped the clean energy transition from every angle — as a founder, as an investor, and most recently, as a government leader.

If you know Jigar, you already know the headlines: He founded SunEdison, led Richard Branson’s Carbon War Room, co-hosted the Energy Gang podcast, co-founded Generate Capital, and most recently, ran the Department of Energy’s Loan Programs Office, better known as LPO.

If you don’t know Jigar, but you’re listening to this, chances are you’ve felt his impact. In 2024, Time Magazine named him one of the 100 most influential people in the world.

And fun fact, he’s also the very first guest to return to Watt It Takes for a second episode.

For more than two decades, Jigar has been behind the scenes — and sometimes out front — helping scale the technologies and financing models that define today’s energy economy.

But this episode isn’t about Jigar’s résumé; it’s about what it was like for him to join and lead LPO, what he learned in his four years in government, and what he’s carrying forward in this next chapter of his career.

Sponsors

This season of Watt It Takes is brought to you by our lead sponsor, HSBC Innovation Banking who is proud to bank some of the most exciting companies pioneering the technologies of tomorrow.

With specialist financing support, deep understanding of the challenges, and a global network across more than 50 markets, they help clients scale breakthrough innovations, and take them to the world.

So, if you’re looking for early-stage funding, or well on your way to FOAK, follow the link below to learn how HSBC Innovation Banking can help on the next stage of your journey.

https://www.business.us.hsbc.com/en/innovation-banking-powerhouse-innovation

About Powerhouse Innovation and Powerhouse Ventures

Powerhouse Innovation is a leading consulting firm connecting top-tier corporations and investors, including corporate innovation teams, CVCs, and pensions with cutting-edge technologies and startups that meet their specific criteria for engagement.

Powerhouse Ventures backs entrepreneurs building the digital infrastructure for rapid decarbonization. To hear more stories of founders building our energy abundant future, hit the “subscribe” button and leave us a review.